Roughly ten years ago, the influencer marketing space was restricted to only dedicated bloggers and celebrities. In the present, it seems like there is an influencer around every corner of your next click on a link. With such an increase in prevalence comes an increase in misinformation. Don't you think it's important to get informed through the right channels from people who have been where you're looking to go?
Some recommendations come in the form of half-hearted thoughts to convicted opinions that resemble a sort of internet dogma; marketing strategies using influencers have become more complex with each passing year.
If you're trying to decide if influencer marketing is right for you, then Legnd has the facts to back you up!
On a basic level, influencer marketing is a kind of marketing that uses social media in order to leverage the popularity of individuals with a dedicated online following and their endorsement of a product. Generally seen as experts within their arenas, market influencers are successful because they have built up a high level of confidence and trust over time. Therefore, product recommendations from their social media accounts serve as a form of social proof for the company that incorporates them into their brand.
With the consolidation and growth of social media platforms, standing out as unique on sites such as Instagram or Facebook has become an uphill battle. If you were fortunate enough to stand apart from the crowd in 2014, you might have been tapped as a rising influencer in your field of expertise. Once one had enough brand experience under their belt, they could transform from social media influencer to full-time marketer.
We are all influenced in one way or another by what we see online, and cultural aesthetics are no different. It now seems as though everyone has carefully curated images of items resting against click-provoking backgrounds with splashes of bright colors flung throughout. When the "standout" look becomes the new normal, what's the next evolution?
Trends point to a more "organic" feel becoming the accepted standard. This is being driven by the younger users of social media networks who are seeking a return to what they feel like a natural communicative exchange over something that has too much corporate gloss. While millennials waxed poetic about getting that "perfect shot" with the most expensive or unique camera equipment, zoomers are content to post directly from their mobile devices to their media platform of choice.
To serve as a fashionable influencer marketer amongst a younger generation, there is no rule to adhere to ideally-set photos with professional posture. Rather, casual and friendly poses rule the day, and any editing is usually kept to a minimum. However, this too will only be transitory, as the only constant across influencer marketing is constant change.
Although it has become a researched strategy today, there are several different networks dedicated to growing influencers for increased web traffic. The worth of the influencer marketing industry is set to exceed 11 billion dollars in value by 2022. Each social media network like TikTok, YouTube, Snapchat, Instagram, and Facebook have their own set of influencers and demographics that are likely to be found in their sphere.
Influencer marketing creates a return on investment greater than most traditional marketing channels, especially when considering that industries advertising across various media outlets intends to increase their budgets substantially year by year.
Just like any other marketing strategy, designing an influencer program takes careful planning and demographic targeting. At Legnd, we know that you won't find success by merely sending free things out to every random person who asks for something or even to your already existing network of contacts.
We understand the steps of cultivating the ideal influencer program:
1) How to Find Market Influencers
Research is always the first step of many processes, and this is no different. Stick to one platform at first, and expand later after you find a tactic that works. Ideally, you will already have a footprint on the platform you want to start off with. Since the industry you're in matters, focus on the platform that seems to naturally highlight your strengths as an organization or company. For example, fashion and beauty are all across Instagram and YouTube, while gaming is the dominant genre on Twitch.
2) Set a Budget and Management Strategy for Influencers
Compensation can vary quite a bit, so make sure that you have set a budget in accordance with the typical rates and size of influencers that you're looking to attract. Micro-influencers might be able to be dealt with directly by contacting them on their platform of choice and sending them product samples, while large celebrities that span multiple platforms might require you to go through a talent agency.
3) Decide on Goals and Messaging
If you have the resources, consider a formal ambassador program. This will both help to elevate sales and increase your brand awareness with what could be the most effective return on investment. However, you can always elect to focus on the specific needs of your brand or organization. This could include increasing your awareness amongst new user groups or increasing awareness within younger demographics. It's critical to remember that an engaged audience is one that will continually interact with your content and translate their participation into sales.
4) Evaluate and Refine Your Influencer Marketing Strategies
Even as your influencer marketing strategy is being actively implemented, it's important to set specific times and dates when you will take a bearing on its progress. As each campaign is carefully evaluated, you can see where your greatest return on investment was had and amend your budget accordingly.
Influencer marketing is the way of the social media future, and it has become a fixture of the landscape online. However, with every iteration and advancement of how people interact online, there is always change. Legnd is here to guide you through the trials and tribulations of your influencer marketing campaign to make the process as smooth and simple as a single click. Reach out to our talented team today to see how we can make your goals a reality!